| We are now in the midst of a global recession, | | | | customers) to discover how your customers are |
| and this is undoubtedly unwelcome news for | | | | dealing with the downturn in the economy and |
| anyone trying to run a business in the high street. | | | | how your business could help them. Ask them |
| But while life has become more difficult for all of | | | | how they are adjusting and what kinds of offers |
| us, there is no reason to expect complete | | | | they would like to see. |
| disaster. | | | | 3. Watch your competition - what's working for |
| Looking back at past recessions it's easy to get | | | | them and can you copy it? |
| scared by the number of people who lost their | | | | 4. Cut unnecessary costs - is there anything your |
| jobs and the number of businesses that closed | | | | business is still spending money on that you don't |
| down. Looking past the shocking statistics, it is | | | | need any more? If you do still need them are |
| important to remember that over 90% of the | | | | there better value alternatives available? Speak to |
| workforce remained in work, and most | | | | your suppliers and ask them how they can help |
| businesses remained open. | | | | you with pricing or payment terms. |
| Of course, customers are going to think twice | | | | 5. Focus on service - make sure your employees |
| before they part with their cash, but they will | | | | understand the value of outstanding customer |
| continue to live a fairly recognisable lifestyle - | | | | service at a time when customers are a precious |
| going out less, but still going out; shopping more | | | | commodity. |
| frugally, but still shopping. | | | | 6. Remember your advertising and marketing - |
| So, here are six tips for restaurants, bars, and | | | | while your competitors are cutting back on |
| other high street businesses to take on the | | | | advertising this is your chance to stand out from |
| recession and come out the other side a winner: | | | | the crowd. According to a leading national |
| 1. Sell what people want - watch what people are | | | | newspaper: "In every recession of the past 90 |
| buying, it will change. This is the most reliable | | | | years, independent studies show that the |
| indicator of what customers want so work harder | | | | businesses who increase their marketing efforts |
| at promoting these items. | | | | are the ones who survive the tough times and |
| 2. Collect customer feedback. Use either formal or | | | | thrive afterwards. |
| informal ways (from surveys to chatting to | | | | |